Analysts predict upward shift in GDP revisions August 20, 2012 REVISIONS to GDP due on Friday will show that output shrank more slowly than previously thought, and perhaps even grew slightly over the second quarter, economic analysts have predicted. Friday’s revision will reveal a fall of 0.5 per cent in the UK’s GDP over the second quarter, predicted Goldman Sachs’ economics team, below the original [...]
Apple now most valuable firm August 20, 2012 Apple became the most valuable public company of all time yesterday, breaking a 13-year record as speculation mounted about new versions of its iPhone and iPad as well as a set-top box to deliver live TV. The Californian firm reached a market capitalisation of $623.5bn in trading yesterday, overtaking the $618bn Microsoft hit in 1999. [...]
Parties find it tough to get funds August 20, 2012 Donations to political parties fell almost £1m in the second quarter, Electoral Commission figures showed yesterday. Parties reported receiving just under £7.9m, with almost £3.8m going to the Conservatives, approximately £3m to Labour and just over £700,000 to the Liberal Democrats. The biggest donor was the Unite union, which gave Labour £840,275, and together the [...]
Health firm Aetna in $5.6bn bid August 20, 2012 American health insurer Aetna said yesterday it plans to buy rival Coventry Health Care for $5.6bn (£3.5bn) to increase its share of the fast-growing, US government-backed Medicare and Medicaid programmes. The deal comes amid consolidation across the sector as firms try to position themselves to benefit from President Barack Obama’s healthcare reforms.
Virgin launches flights on West Coast rail route August 20, 2012 VIRGIN Atlantic will today announce plans to operate flights between London and Manchester, just days after its sister firm Virgin Trains lost the right to run rail services between the two cities. Richard Branson’s airline will start flying between Heathrow and Manchester airport in March 2013 and says this is the first step in building [...]
Early investor Thiel sells Facebook stock August 20, 2012 EARLY Facebook investor, current board member and billionaire PayPal co-founder Peter Thiel last week unloaded most of his shares in the social networking giant, according to a filing to the US regulator released yesterday. The venture capitalist and hedge fund manager sold around 20m shares in the tech firm, at an average price of $19.73, [...]
Just a third of workers return to Lonmin’s Marikana mine August 20, 2012 OPERATIONS resumed in a muted fashion at the Marikana mine yesterday, as less than a third of Lonmin workers returned to work. Across the 12 shafts at Marikana, 27 per cent of workers – out of a 28,000-strong workforce – turned up for the morning shift. It comes despite an earlier ultimatum issued by Lonmin, [...]
Raymond will lead JPM probe August 20, 2012 FORMER Exxon Mobil boss Lee Raymond is investigating the so-called London Whale derivatives losses that hit JP Morgan earlier this year, the bank said yesterday. The institution hopes a thorough investigation headed by the well respected business leader will at last draw a line under the episode which saw the bank take huge losses on [...]
Bundesbank sinks hope of ECB bond buy August 20, 2012 SPANISH government borrowing costs dropped yesterday on hopes that the European Central Bank (ECB) could announce further bond buying to cap yields at safe levels, even though the ECB denied the claims. Germany’s Bundesbank made clear its opposition to any such scheme, arguing that bond-buying amounts to the central bank financing government spending – something [...]
Construction in Eurozone deep in depression August 20, 2012 ACTIVITY in the Eurozone construction industry sank further in June, Eurostat said yesterday. Seasonally adjusted production in the bloc’s construction industry edged down 0.5 per cent compared to May, putting it 2.8 per cent down on the year, and almost a quarter lower than its pre-crisis peak. Economic powerhouse Germany registered a surprise two per [...]
